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Down-payment Articles

Posted on August 15   By Peter Andrew
It's not easy to find a subject upon which politicians are almost universally agreed, but the need to reform the mortgage market is one of them. Of course, lawmakers are hopelessly divided on the shape of the changes they'd like to see, and that division may yet see moves to improve the current system trapped in the legislative gridlock that has been a hallmark of recent congresses. Mortgages in recent history Nevertheless, some developments seem close to inevitable, and one that is likely to af.... Read More...
Posted on February 14   By Brandon
More cash and better credit — that’s what it may take secure an FHA mortgage in the coming months, according to changes announced this week by the U.S. Department of Housing and Urban Development. With the FHA’s reserves now below government-mandated levels, the agency is considering ways to minimize risk and exposure. FHA borrowers may soon face a higher minimum down payment (it’s currently 3.5 percent) or pay more in mortgage insurance premiums. The agency is also cons.... Read More...
Posted on February 13   By MLP Blog
Today's homebuyers have an incredible number of options at their fingertips when it comes to selecting mortgage insurance. However, not all mortgage insurance options are created equal. Your first step should involve asking questions and researching the options, and then deciding what is best for your personal situation. First things first: What is Mortgage Insurance? Mortgage insurance is a financial guaranty that insures lenders against loss in case a borrower defaults on a mortgage. Lende.... Read More...
Posted on February 13   By MLP Blog
Private mortgage insurance is making a comeback. Until six or eight months ago, private mortgage insurance was out of favor as people eager to get into the roaring housing market took adjustable-rate mortgages or "piggyback" loans or some other exotic form of financing. But as the market has cooled and lenders have tightened their standards, many people who want homes, especially first-time home buyers and those with little money for down payments, are choosing traditional fixed-rate mortgages b.... Read More...
Posted on February 13   By MLP Blog
Of the million or so hurdles you can encounter between you and your first home, the down-payment hurdle can sometimes loom the largest. Lenders can make it easy to buy a house without the traditional 20% payment, but that doesn't mean doing so is always to the advantage of the new homebuyer. As you've doubtless been reading lately, lenders such as New Century and Accredited Home Lenders (Nasdaq: LEND) helped lots of buyers get into a home, but now many of them are facing default and potential fo.... Read More...
Posted on June 14   By Justin McHood
Good news for anyone who is a first time home buyer and can qualify for the new home buyer tax credit -- HUD has now issued official guidance that will allow people to "monetize" the tax credit to use for closing costs or a down payment once the 3.5% has been paid. Many people who want to "monetize" the tax credit ask the question of "can I use the tax credit for my down payment?" and the answer to that is officially "yes" -- but not until they have put the 3.5% down as required for an FHA loan.... Read More...
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